Daily Sugar Market Update By ‘Vizzie’ – 21/08/2019

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ChiniMandi, Mumbai – Wednesday 21st August 2019

Indian: The market continued to witness a mixed trend. In Maharashtra, dispatches from Sangli & Kolhapur also continued to be at a halt owing to the unresolved issue of transporters labour payment. Mills are opening their rates at Rs.3110 to Rs.3160/Qntl, whereas in Resell, prices are Rs.3100 to 3150. In Uttar Pradesh, Mill sales are taking place at Rs.3340 to 3380. In resale, the rates are Rs.3320 to 3360. In Gujarat, S/30 is trading at Rs.3240 to 3370. In Tamil Nadu, Mill trades are taking place at Rs.3400 to Rs.3500 excluding GST.

International: The market was stable. London White Sugar is trading at $309.70 whereas US Sugar is trading at $11.50. The FOB indication for raw sugar was at $325-$330 and Indian White Sugar at $340-$345. The demand of Raw Sugar range was ₹20200-20500/mt and White Sugar ₹21500-₹21800/MT on Ex.factory basis.

Currency, Commodity & Indian Indices: The rupee was trading against the US dollar at 71.565 meanwhile USD traded with BRL at 4.0279, Crude Futures traded at ₹4063, Crude WTI traded at $56.67. The benchmark index BSE Sensex closed down at 37,060.37, down by 267.64 points whereas Nifty50 closed at 10,918.70, down by 98.30 points.

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